The European Commission has published a ten-page provisional list of products Europe imports from the United States, on which it is threatening to apply 25% import duties unless the EU is exempted from steel and aluminium duties imposed by President Trump. The list includes some fastener tariff codes.
The Commission has asked for stakeholder views on the list of tariff codes, Part A of which covers EU imports from the United States worth €2.8 billion annually. After notification to the WTO, retaliatory EU tariffs could be applied to this part of the list at any time. Part B of the list could be implemented after three years or when the WTO rules the US duties illegal under international trade laws. This would bring the total of potential retaliatory tariffs to €6.4 billion, the value of US steel and aluminium imports from the EU.
The ten-page list includes a diverse range of products from peanut butter and orange juice, to steel and steel products. Buried in Part A are seven tariff codes for fasteners: 73181410, 73181491, 73181499, 73181640, 73181660, 73181692, 73181699. The products involved include self-tapping screws, spaced thread screws, blind rivet nuts, self-locking nuts and nuts.
According to the US National Fastener Distributors Association, and lawyers working for the country’s largest master distributor, Brighton Best International, the US duties on steel and aluminium do not affect imports of finished fastener products.
Significantly, the list has been published just ahead of a meeting scheduled between EU Trade Commissioner Cecilia Malmström, and US Commerce Secretary Wilbur Ross. President Trump has said Secretary Ross would lead efforts to remove EU tariffs and barriers, which he described as “horrific” and unfair to US farmers and manufacturers. Reuters quotes a Commission spokesperson as rejecting as unacceptable US attempts to link a solution to market access or trade negotiations, emphasising that the EU would not negotiate on exemption under these terms.
The Commission is requesting stakeholder comments on the list by 26th March. The full list can be accessed at: http://trade.ec.europa.eu/doclib/docs/2018/march/tradoc_156648.pdf
Having held senior management roles in leading automotive and fastener businesses, Phil joined Fastener + Fixing Magazine as editor in 2002. Convinced there is no substitute for ‘being there’, over 17 years of visits and interviews around the world means he has accumulated an extraordinary knowledge and perspective of the global fastener industry, reflected in his incisive and thought provoking reporting.
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